Of the recent $19.44 billion Kraft-Cadbury deal, Warren Buffett said, “I have a lot of doubts about Kraft’s deal. I’d vote ‘no’ if I had a vote. I feel poor now.”
Mr. Buffett's investment vehicle, Berkshire Hathaway Inc., is Kraft's largest shareholder, and Mr. Buffett had already gone on record as saying he would have voted against an earlier offer, which would have required a big new share issue.
Under the newly structured deal announced earlier this week, Kraft no longer requires its own investors to sign off on the deal. The initial offer required shareholder votes because it involved the issuance of a larger percentage of stock.
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